Prasad Kulkarni, a seasoned finance professional currently holding the position of finance controller for the company's distribution business as of date, will take charge as the interim CFO of the company.
Prasad Kulkarni, aged 44, is a postgraduate in commerce, qualified Chartered Accountant, and CISA from ICASA USA and has also completed an Executive MBA.
Kulkarni has 21 and more years of diverse experience in domains such as financial planning and analysis, consolidations, technical accounting, auditing, project management, corporate governance, capital market transactions, and cross-border deals. He has been with Cummins India Limited since July 2014 and is currently serving the company as the finance controller for the distribution business.
Prior to joining Cummins, Kulkarni worked in consulting, wherein he was involved in various audits of large MNCs and banks, compliance and governance, corporate restructuring, and capital market transactions such as FCCBs, QIPs, etc.
Cummins India is a leading manufacturer of diesel and natural gas engines. The company is engaged in the business of manufacturing, trading, and selling engines and allied activities.
The company’s standalone net profit jumped 37.16% to Rs 450.61 crore in Q2 FY25 as against Rs 328.51 crore posted in Q2 FY24. Revenue from operations was at Rs 2,448.40 crore in Q2 FY25, marking a growth of 30.82% as against Rs 1871.45 crore reported in the same quarter last year.
Shares of Cummins India fell 2.24% to currently trade at Rs 3,449 on the BSE.